The Keynesian economic framework is based on the assumption that:
a. prices and wages are sticky and do not adjust quickly
b. prices and wages self-adjust in the long run.
c. agriculture is the source of economic wealth.
d. markets work better without any government intervention.
a
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All of the following can cause technological progress EXCEPT
A) population decreases. B) free trade. C) education. D) research and development.
In the above figure, ________ will shift in the demand curve from D to D1
A) an increase in income if pizza is an inferior good B) a decrease in the price of a sub sandwich, a substitute for pizza C) buyers' expectation that pizza will be less expensive next week D) a scientific article published that demonstrates eating pizza is good for one's health E) a fall in the cost of producing pizza
If a macroeconomist aggregates many markets into one, then
a. individual market differences are eliminated. b. one must not confuse ravioli and hot dogs. c. she is performing a meaningless exercise. d. differences between products must still be noted.
The health care system in the United Kingdom is often referred to as ________, under which the government owns most of the hospitals and employs most of the doctors
A) a single-payer system B) a universal health insurance system C) socialized medicine D) a private health care system